Wendy’s Location Sells for Nearly $3 Million

A property occupied by a Wendy’s restaurant in Canoga Park has sold to a private investor in a deal arranged by commercial real estate brokerage Charles Dunn Co. According to real estate database company CoStar Realty Information Inc., Alondra Jaya Pratama paid $2.98 million for the 3,139-square-foot parcel at 8232 De Soto Ave., occupied by the fast-food restaurant as the single tenant. The property last sold in 2003 for about $1.64 million, according to CoStar. “The purchase of the Wendy’s occupied asset provided our client with a stable investment that offered greater cash flow and a longer lease term in place,” said Kyle Gulock of Charles Dunn, who represented the buyer along with Jason Cope. “The buyer plans to hold this property long term.” According to the lease arrangement, Wendy’s pays for all expenses related to the property. The seller, a private investor from Los Angeles, was represented by Sands Investment Group.